Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
Currently, 16% of Nike’s U.S. shoe imports come from China, but the company aims to lower this figure to the high single digits by May 2026. Executives noted that tariffs could add nearly $1 billion to Nike’s costs. To offset this, the brand plans to restructure its sourcing, raise product prices, and explore corporate cost cuts.
Despite a 12% drop in fourth-quarter sales, Nike beat market expectations, with shares surging 11% in after-hours trading. The running category saw a return to growth, driven by renewed investment in products like the Pegasus and Vomero lines. Nike also increased marketing spend by 15% and hosted a high-profile event featuring star athlete Faith Kipyegon, highlighting its renewed focus on performance sportswear.
Looking ahead, Nike projects a mid-single-digit revenue decline in the first quarter—less severe than analysts’ expected 7.3% dip. However, executives cautioned that recovery in the Chinese market will be slow due to economic challenges and heightened competition.
Kazakhstan has significantly expanded its international air connectivity last year, reopening and launching flights to 30 countries according to data ...
The death toll from the collapse of two residential buildings in the northern Lebanese city of Tripoli has risen to 15, state media said on Monday, as...
U.S. Vice President JD Vance will travel to Italy, Armenia and Azerbaijan from 9–11 February, accompanied by Under Secretary for Economic Affairs Ja...
Iran’s atomic energy chief says Tehran could dilute uranium enriched to 60 per cent if all international sanctions are lifted, stressing that techni...
NATO member Türkiye has dispatched several military aircraft to Germany, along with roughly 2,000 troops, to take part in the Western alliance’s la...
U.S. President Donald Trump has criticised American freestyle skier Hunter Hess after the athlete said he felt conflicted about representing the United States at the Winter Olympics in Italy, sparking a public clash that highlights growing political tensions surrounding the Games.
U.S. skiing great Lindsey Vonn underwent surgery in an Italian hospital on Sunday after her attempt to win Olympic downhill gold ended in a violent crash just seconds into the race at the Milano Cortina Winter Games.
A Japanese city near Mount Fuji has cancelled its annual cherry blossom festival, saying growing numbers of badly behaved tourists are disrupting daily life for residents.
Several avalanches struck northern Italy on Saturday, killing at least three people, as rescue officials warned the death toll could rise with unstable conditions persisting across the Alps.
U.S. President Donald Trump’s Middle East envoy Steve Witkoff and Trump’s son-in-law Jared Kushner visited the USS Abraham Lincoln aircraft carrier in the Arabian Sea on Saturday after completing a round of talks with Iran.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment